Trump Family Crypto WLFI Starts Trading With $5 Billion Holdings

Benzinga

Trump’s family-backed crypto token, WLFI, began public trading this week, giving the president and his sons holdings worth nearly $5 billion, according to the BBC. The family controls about a quarter of the 100 billion tokens created, with Trump personally holding $3.4 billion worth. WLFI fell roughly 50% since Monday’s launch, trading around $0.22 on Tuesday, but remains above early purchase prices. World Liberty Financial, the company behind the coin, has already brought in $500 million in revenue and partnered with a firm that raised $750 million to buy WLFI. The Trumps launched World Liberty Financial during last year’s presidential campaign, raising conflict-of-interest concerns as Trump entered an industry he could regulate.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Trump's family-backed crypto token, WLFI, began public trading this week,

00:08giving the president and his son's holdings worth nearly $5 billion, according to the BBC.

00:14The family controls about a quarter of the 100 billion tokens created,

00:18with Trump personally holding $3.4 billion worth. WLFI fell roughly 50% since Monday's launch,

00:25trading around 22 cents on Tuesday, but remains above early purchase prices.

00:32World Liberty Financial, the company behind the coin, has already brought in $500 million in revenue

00:38and partnered with a firm that raised $750 million to buy WLFI.

00:43The Trumps launched World Liberty Financial during last year's presidential campaign,

00:48raising conflict of interest concerns as Trump entered an industry he could regulate.

00:53For all things money, visit Benzinga.com.

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